Buy AIA Engineering; target of Rs 2230: ICICI Direct

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ICICI Direct's research report on AIA Engineering

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills). Products includes tube mill internals (grinding media, shell liners, diaphragm), HRCS castings & crusher parts for cement, mining and power Second largest hi-chrome producer in the world

Outlook

We remain long term positive and retain our BUY rating on the stock. We value AIA at Rs 2230 i.e. 31x P/E on FY23E EPS

For all recommendations report, click here

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